Fidelity management invests in Nykaa

Fidelity Investments Inc. has financed Nykaa through an undisclosed secondary transaction. Following this investment from Fidelity, Nykaa has completed a secondary placement that facilitated partial exit for its early investors as well as an exit for employee ESOPs.

According to the startup, it recorded revenue of Rs 1,860 crore for the year ending March 2020 with EBIDTA of Rs 94 crore. The company’s revenues are projected to grow at around 40 percent on a consolidated level for FY 2021.

“We are very excited to have Fidelity, one of the largest asset managers in the world, to join as a partner in our growth journey. Their investment in a private company in India is testament to the strength of our brand and business model.” said Falguni Nayar, Founder and CEO

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